Mercy Falls BC Inc.
- Proceeding
- CCAACompanies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36
- File
- S-253718
Mercy Falls BC Inc. commenced CCAA proceedings on May 16, 2025 and remains under court protection, the stay having been extended to September 8, 2025, December 5, 2025, March 31, 2026 and now November 30, 2026. The First Volturno Affidavit put liabilities at $8,471,709: secured claims of $3,497,203, including $3,139,179 owed to National Bank of Canada under a November 2024 tax credit facility secured by a general security agreement, $341,000 to parent and interim lender Nuts & Bolts Productions, LLC, and $17,024 to Fraser River Paint & Body Ltd.; and unsecured claims of $4,974,506. No total asset figure was stated. Assets described included cash of approximately $215,000 as at May 12, 2025 and a tax refund receivable of approximately $3,300,000 expected in September 2025.
The officer filed report no. Fourth Report. The Petitioner continues to pursue enforcement of the Default Judgment Orders against Studio in California courts, including seeking appointment of a receiver over Studio's assets, while also negotiating with third parties interested in acquiring rights to the Film; it has repaid its NBC loan in full using the recently received Tax Credit Refund.
Source: Fourth Report of the Monitor
Notice of Application re Stay Period to August 31, 2026. — Application / notice of application
Notice of Application re Stay Extension to March 31, 2026 — Application / notice of application
Notice of Application re Stay Extension to December 5, 2025 and Expedited Schedule — Application / notice of application
Order Made After Application re Stay Extension to April 30, 2026 was filed.
Source: Order Made After Application re Stay Extension to April 30, 2026
The officer filed report no. Third Report. The Petitioner is pursuing enforcement of the Default Judgment Orders against Studio (its principal asset) through US litigation, while awaiting a CRA-audited income tax refund and continuing to pay ordinary course obligations under CCAA protection.
Source: Third Report of the Monitor
Application Record Cover and Index - Hearing November 25, 2025 — Application / notice of application
Notice of Application re Default Judgment and Summary Assessment of Damages — Application / notice of application
Notice of Application re Stay Extension to August 25, 2025 — Application / notice of application
Order Made After Application re Stay Extension and Adjournment was filed.
Source: Order Made After Application re Stay Extension and Adjournment
The officer filed report no. Second Report. The Petitioner's film is in post-production (suspended since December 2024 due to liquidity constraints) and it is pursuing a Contract Claim against Studio for breach of the Production Services Agreement, while also working to complete tax credit filings expected to satisfy its secured debt to NBC.
Source: Second Report of the Monitor
The officer filed report no. First Report of the Monitor. The Company's film production is in the Post-Production stage but was suspended in December 2024 due to liquidity constraints; the Company is seeking a stay extension and increased financing to resolve a funding dispute with the Studio and complete the film.
Source: First Report of the Monitor
Debtor
Mercy Falls BC Inc.
Monitor
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Basran | Supreme Court of British Columbia | 9 orders, May 2025 – Apr 2026 | 9 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorMNP | McCarthy Tétrault LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| ApplicantMercy Falls BC Inc. | McEwan Cooper Kirkpatrick LLP · Miller Thomson LLP · Poulus Ensom Smith LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| Interim lender | Michael, Evrensel & Pawar LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorARRI Americas, Inc | Lazare Potter Giacovas & Moyle LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorCanada Revenue Agency | Lazare Potter Giacovas & Moyle LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorMBS Equipment Company Canada Ltd | Coulson Litigation & Advisory | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorNational Bank of Canada | Blake, Cassels & Graydon LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorTop Film Distribution Corp | Greenberg Glusker LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesDeemed trust class (source deductions); Petitioner stated to be up to date on GST/HST remittances — debtor: Mercy Falls BC Inc. | $17.5K | Affidavit #1 of Jeanette Volturno |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
4 more claims in 1 class The stack holds Deemed trusts (CRA and other) and Secured claims.
Every creditor and every amount, drawn to scale.
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See all plansNational Bank of Canada: paid in full.FinalNotice of Application re Stay Period to August 31, 2026. · 16 Apr 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | National Bank of Canada | — | paid in full | Finalper the debtor | Notice of Application re Stay Period to August 31, 2026. · 16 Apr 2026 |
| UnsecuredGST Balance (CRA) | Canada Revenue Agency | — | paid in full | Finalper the debtor | Notice of Application re Stay Period to August 31, 2026. · 16 Apr 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
As at ·
Cumulative receipts
$19.6K
As at 21 Apr 2026Fourth Report of the Monitor
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Service List August 5 2026
| PDF · Subscribers | |
Service List as of July 20, 2026
| PDF · Subscribers | |
Order Made After Application re Stay Extension to April 30, 2026
| PDF · Subscribers | |
Order re Stay Extension to November 30, 2026
| PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
| Affidavit #4 of Jeanette Volturno | PDF · Subscribers | |
Notice of Application re Stay Period to August 31, 2026.
| PDF · Subscribers | |
| Notice of Application re Stay Extension to March 31, 2026 | PDF · Subscribers | |
Notice of Application re Stay Extension to December 5, 2025 and Expedited Schedule
| PDF · Subscribers | |
| Affidavit #1 of Tanya Wynn | PDF · Subscribers | |
Third Report of the Monitor
| PDF · Subscribers | |
| Application Response - National Bank of Canada | PDF · Subscribers | |
| Affidavit #3 of Jeanette Volturno | PDF · Subscribers | |
| Application Record Cover and Index - Hearing November 25, 2025 | PDF · Subscribers | |
Order re Damage Assessment
| PDF · Subscribers | |
Order re Default
| PDF · Subscribers | |
| Affidavit #2 of Cheryl Callihoo | PDF · Subscribers | |
| Affidavit #1 of Cheryl Callihoo | PDF · Subscribers | |
| Affidavit #3 of Jordanna Pishton | PDF · Subscribers | |
| Notice of Application re Default Judgment and Summary Assessment of Damages | PDF · Subscribers | |
Order To Increase Interim Financing
| PDF · Subscribers | |
| Order re Proposed Litigation Schedule | PDF · Subscribers | |
Order re Stay Extension to December 5, 2025
| PDF · Subscribers | |
Supplement to the Monitor's Second Report
| PDF · Subscribers | |
Notice of Application re Stay Extension to August 25, 2025
| PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
Order Made After Application re Stay Extension and Adjournment
| PDF · Subscribers | |
| Affidavit #1 of Helen Nicol | PDF · Subscribers | |
| Affidavit #2 of Jeanette Volturno | PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
| Affidavit #1 of Zoe Jackson McGrath | PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
| Affidavit #1 of Ryan Hamilton | PDF · Subscribers | |
| Application Record Index - Hearing May 26, 2025 | PDF · Subscribers | |
| Application Response filed May 22, 2025 | PDF · Subscribers | |
| Letter from McEwan Partners re CCAA counsel | PDF · Subscribers | |
Initial Order Made After Application
| PDF · Subscribers | |
List of Canadian Creditors
| PDF · Subscribers | |
List of US Creditors
| PDF · Subscribers | |
Petition to the Court
| PDF · Subscribers | |
Proposed Monitor's First Report to Court
| PDF · Subscribers | |
Affidavit #1 of Jeanette Volturno
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Mercy Falls BC Inc.” (CCAA), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/mercy-falls-bc-inc